Types of loans and their purposes along with other interest and repayment details:
Home Loan:
Eligibility: Individuals Buying / Constructing House
Interest Rate: 8 – 10 %
Repayment Period: Up to 30 Years
Loan Against Property (LAP):
Eligibility: Property Owners
Interest Rate: 9 – 12 %
Repayment Period: 5 to 15 Years
Gold Loan:
Eligibility: Individuals with gold assets
Interest Rate: 7 – 10 %
Repayment Period: Up to 3 Years
Vehicle Loan:
Eligibility: Individuals buying vehicles
Interest Rate: 8 – 11 %
Repayment Period: 3 to 7 Years
Loan Against Securities:
Eligibility: Investors with shares, FDs, mutual funds
Interest Rate: 9 – 12 %
Repayment Period: 1 to 5 Years
Education Loan (Secured):
Eligibility: Students pledging collaterals
Interest Rate: 9 – 12 %
Repayment Period: 5 to 15 Years
Agriculture Loan (Secured):
Eligibility: Farmers with land / crops as collateral
Interest Rate: 7 – 10 %
Repayment Period: 1 to 7 Years
Personal Loan:
Eligibility: Salaried / Self-employed individuals
Interest Rate: 10 – 18 %
Repayment Period: 1 to 5 Years
Education Loan (Unsecured):
Eligibility: Students (without collateral, up to limit)
Interest Rate: 9 – 14 %
Repayment Period: 5 to 10 Years
Credit Card Loan / Cash Advance:
Eligibility: Credit card holders
Interest Rate: 24 – 36 %
Repayment Period: Up to 3 Years
Consumer Durable:
Eligibility: Buying Electronics / Appliances
Interest Rate: 10 – 18 %
Repayment Period: 6 Months to 3 Years
Instant / Payday Loan:
Eligibility: Borrowers via apps / fintech
Interest Rate: 15 – 40 %
Repayment Period: Up to 1 Year
Business Term Loan:
Eligibility: Business Owners
Interest Rate: 10 – 18 %
Repayment Period: 1 to 10 Years
Working Capital Loan:
Eligibility: Business Owners
Interest Rate: 9 – 14 %
Repayment Period: 1 to 5 Years
MSME Loan:
Eligibility: Micro, small & Medium Enterprises
Interest Rate: 8 – 15 %
Repayment Period: 1 to 10 Years
Overdraft / Cash Credit:
Eligibility: Business with current account
Interest Rate: 8 – 14 %
Repayment Period: Flexible
Startup Loan:
Eligibility: Entrepreneurs / startups
Interest Rate: 10 – 18 %
Repayment Period: 1 to 7 Years
Invoice Financing / Bill:
Eligibility: Business with unpaid invoices
Interest Rate: 10 – 16 %
Repayment Period: Up to 1 Year
Trade Loan (Export / Import):
Eligibility: Export & Import Business
Interest Rate: 8 – 14 %
Repayment Period: 1 to 5 Years
Mudra Loan (PMMY):
Eligibility: Small businesses, shopkeepers
Interest Rate: 8 – 12 %
Repayment Period: 1 to 7 Years
Kisan Credit Card (KCC):
Eligibility: Farmers
Interest Rate: 4 – 9 % (with subsidy)
Repayment Period: 1 to 5 Years
PMAY Subsidy Loan:
Eligibility: Individuals under PMAY scheme
Interest Rate: 6 – 7 % (after subsidy)
Repayment Period: Up to 20 Years
Education Subsidy:
Eligibility: Students under govt scheme
Interest Rate: 6 – 9 %
Repayment Period: 5 to 15 Years
